The Coming Week 18.5.-22.5.15

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Euro strength but indexes feel jittery

Not too much turnarounds this week, stock markets kept creeping up with traders discussing if the rally is coming to an end both in Europe and the US. PMI data from across the developed economies will provide the most interesting data while CPI will also come into play for forex traders during the week.

Monday 18.5.15 – Canada have a banking holiday in what should be a relatively quiet day for markets.

Tuesday 19.5.15 – The Asian session kicks off with the Minutes from the Monetary policy Meeting in Australia at 1:30am GMT while Europe will wake up with th CPI number from the UK (along with a host of other data) at 8:00am GMT. An hour later will see the German ZEW Economic Sentiment.

The American session will be preempted by Building Permit numbers for the States at 12:30pm GMT, but Canada’s Central Bank Governor Poloz will be speaking at 3:45pm GMT which might affect the USD/CAD pair.

There might be some late night action as Japan will share their Preliminary GDP numbers at 11:50pm GMT, so the USD/JPY, EUR/JPY are poised to move around in unusual hours.

Wednesday 20.5.15 – Three main points will provide the ammunition for volatility in mid-week. 8:30am GMT will provide the MPC Official Bank Rate Votes, with any change signalling a shift in the sentiment. Canada is quite prominent this week and will send out their Wholesale Sales numbers.

But the main event are the FOMC Meeting Minutes at 6:00pm GMT that could provide volatility if there is a surprise in the content of their last conversation.

Thursday 21.5.15 – Perhaps the most diverse day in terms of the places economics announcements will be coming from. China will see its HSBC Flash Manufacturing PMI at 1:45am GMT and with the renminbi available for trading in Trading 212 it should be its high point of the week.

French and German PMI data is due at 7:00am and 7:30am GMT, followed by Retail Sales from Britain at 8:30am GMT, making for a busy morning.

12:30pm GMT is time for the Unemployment Claims from the US and 2:00pm GMT will be when the Philly Fed Manufacturing Index comes out.

Friday 22.5.15 – A busier Friday than usual, with Central Bankers giving speeches all over the place. The Bank of Japan will be giving its regular press conference during the Asian session (as usual it doesn’t have a set time). 8:00am GMT will see Mario Draghi speak at a forum on inflation and unemployment, but traders should still keep an eye on the German Ifo Business Climate indicator that is released at the same time.

Bank of England Governor Carney is up next at the same conference and will deliver his speech 11:00am GMT.

12:30pm GMT will see CPI numbers from the US and Canada which will be an hour before the panel of central bankers at the aforementioned seminar. It could get interesting with the governors of the ECB, BOE and BOJ all at one place.

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And here are our reading picks for this weekend:

 

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